Samlyn Capital LLC Cuts Holdings in NerdWallet, Inc. (NASDAQ:NRDS)

Samlyn Capital LLC reduced its position in NerdWallet, Inc. (NASDAQ:NRDS) by 0.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,968,302 shares of the company’s stock after selling 11,716 shares during the quarter. Samlyn Capital LLC owned about 2.53% of NerdWallet worth $28,737,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Trexquant Investment LP raised its position in shares of NerdWallet by 2.7% in the 4th quarter. Trexquant Investment LP now owns 42,959 shares of the company’s stock worth $632,000 after buying an additional 1,133 shares during the period. Steamboat Capital Partners LLC raised its position in shares of NerdWallet by 1.7% in the 1st quarter. Steamboat Capital Partners LLC now owns 242,033 shares of the company’s stock worth $3,558,000 after buying an additional 4,030 shares during the period. Rhumbline Advisers raised its position in shares of NerdWallet by 17.6% in the 2nd quarter. Rhumbline Advisers now owns 52,373 shares of the company’s stock worth $765,000 after buying an additional 7,837 shares during the period. Meeder Asset Management Inc. raised its position in shares of NerdWallet by 126.4% in the 2nd quarter. Meeder Asset Management Inc. now owns 16,841 shares of the company’s stock worth $246,000 after buying an additional 9,401 shares during the period. Finally, Olympiad Research LP purchased a new position in shares of NerdWallet in the 4th quarter worth $173,000. 38.81% of the stock is owned by hedge funds and other institutional investors.

NerdWallet Stock Down 0.5 %

Shares of NASDAQ NRDS opened at $12.81 on Tuesday. The firm’s 50-day moving average price is $12.96 and its two-hundred day moving average price is $13.71. NerdWallet, Inc. has a 52-week low of $6.38 and a 52-week high of $17.30. The stock has a market capitalization of $995.82 million, a P/E ratio of -75.35 and a beta of 1.43.

NerdWallet (NASDAQ:NRDS) last issued its earnings results on Wednesday, July 31st. The company reported ($0.12) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). NerdWallet had a negative return on equity of 2.98% and a negative net margin of 1.85%. The business had revenue of $150.60 million during the quarter, compared to the consensus estimate of $149.93 million. During the same period in the prior year, the business earned ($0.14) EPS. The business’s revenue was up 5.1% on a year-over-year basis. As a group, equities research analysts expect that NerdWallet, Inc. will post -0.01 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NRDS. Barclays lowered their price target on NerdWallet from $18.00 to $16.00 and set an “overweight” rating for the company in a report on Thursday, August 1st. Oppenheimer lowered their price target on NerdWallet from $20.00 to $18.00 and set an “outperform” rating for the company in a report on Thursday, August 1st. Finally, Truist Financial lowered their price target on NerdWallet from $19.00 to $16.00 and set a “buy” rating for the company in a report on Monday, August 5th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $16.00.

Insider Activity

In related news, VP Samuel Yount sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $12.01, for a total transaction of $60,050.00. Following the sale, the vice president now owns 2,329,471 shares of the company’s stock, valued at $27,976,946.71. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 45.93% of the company’s stock.

About NerdWallet

NerdWallet, Inc operates a digital platform that provides consumer-driven advice about personal finance by connecting individuals and small and mid-sized businesses with financial products providers in the United States, the United Kingdom, Australia, and Canada. Its platform offers guidance to consumers through educational content, tools and calculators, and product marketplaces, as well as through NerdWallet app for various financial products, including credit cards, mortgages, insurance, SMB products, personal loans, banking, investing, and student loans.